CA Inc.’s stock dropped more than 8 percent Friday morning after the Islandia-based software maker told investors that sales have slumped.
The company’s stock fell $2.26, to $24.05 per share, in early trading.
CA, Long Island's largest public company by stock market value, said on Thursday that its revenue fell 2 percent, to $1.15 billion during April, May and June.
The company, which sells mainframe and storage software to large corporations, still reported $240 million in profit for the first quarter of its fiscal year, down less than 1 percent from last year.
The total value of CA's shares is about $11.3 billion. It has about 1,525 employees on Long Island and close to 14,000 employees worldwide.